Alphabet, Google's parent company, has shown a continued upward momentum with its stock. Alphabet's valuation has passed the $2 Trillion mark. This has been largely fuelled by a series of strategic corporate decisions. One such decision is the company's buyback of its own stocks amounting to billions of dollars. A key part of their growth strategy seems to be a shift in focus to Artificial Intelligence (AI). This is evident with hiring of Eli Lilly veteran, Anat Ashkenazi, Google's new Chief Financial Officer. There's been a significant growth in the company's AI business, which has optimistically impacted the investor's sentiment. Additionally, Alphabet's shares continue to soar as they not only meet but exceed the market's expectation with their recent earnings announcement. Alphabet's remarkable Q1 performance stands testament to this, and Google CEO Sundar Pichai has sold shares worth over $3 million. The AI oriented chat application, ChatGPT, could be included in future iPhones boosting the prices of both Apple and Google stocks. However, Alphabet's stock faced a brief downfall after missing expectations on Google's ad revenue. The company, for the first time ever, has announced dividends alongside a significant $70 billion buyback, following a strong earnings report.
Google Stocks News Analytics from Wed, 25 Oct 2023 07:00:00 GMT to Fri, 07 Jun 2024 13:54:00 GMT - Rating 8 - Innovation 5 - Information 6 - Rumor -5
